VHYAX vs. VUG

Last updated Jun 4, 2026

VHYAX (Vanguard High Dividend Yield Index Fund Admiral Shares) and VUG (Vanguard Growth ETF) are both funds - VHYAX is a Large Cap Value Equities fund managed by Vanguard, while VUG is a Large Cap Growth Equities fund tracking the CRSP US Large Cap Growth Index. Over the past 5 years, VHYAX returned 11.62%/yr vs 15.11%/yr for VUG. A 0.60 correlation means they provide meaningful diversification when combined. VHYAX charges 0.08%/yr vs 0.03%/yr for VUG.

Performance

VHYAX vs. VUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard High Dividend Yield Index Fund Admiral Shares (VHYAX) and Vanguard Growth ETF (VUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VHYAX achieves a 12.92% return, which is significantly higher than VUG's 9.49% return.

VHYAX

• 1D: 1.21%
• 1M: 3.83%
• YTD: 12.92%
• 6M: 12.47%
• 1Y: 26.66%
• 3Y*: 19.01%
• 5Y*: 11.62%
• 10Y*: —

VUG

• 1D: -1.23%
• 1M: 6.22%
• YTD: 9.49%
• 6M: 8.72%
• 1Y: 27.84%
• 3Y*: 25.93%
• 5Y*: 15.11%
• 10Y*: 18.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VHYAX vs. VUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VHYAX Vanguard High Dividend Yield Index Fund Admiral Shares	12.92%	15.39%	17.39%	6.68%	-0.45%	26.08%	1.06%	16.67%
VUG Vanguard Growth ETF	9.49%	19.40%	32.69%	46.83%	-33.16%	27.35%	40.25%	25.11%

Correlation

The correlation between VHYAX and VUG is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Feb 8, 2019	0.60

The correlation between VHYAX and VUG shifts across timeframes, from 0.45 (1 year) to 0.60 (all time), reflecting how their relationship changes across market environments.

VHYAX vs. VUG - Sectors Allocation Comparison

Sectors	VHYAX	VUG
Financial Services	20.5%	4.3%
Technology	17.7%	53.5%
Healthcare	12.2%	4.6%
Industrials	12.1%	3.6%
Energy	9.8%	0.4%
Consumer Defensive	8.1%	1.5%
Consumer Cyclical	6.7%	12.2%
Utilities	5.7%	0.9%
Communication Services	3.5%	17.3%
Basic Materials	3.5%	0.6%
Real Estate	0.0%	1.0%

Return for Risk

VHYAX vs. VUG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VHYAX

VHYAX Risk / Return Rank: 81
VHYAX Sharpe Ratio Rank: 84
VHYAX Sortino Ratio Rank: 81
VHYAX Omega Ratio Rank: 74
VHYAX Calmar Ratio Rank: 86
VHYAX Martin Ratio Rank: 83

VUG

VUG Risk / Return Rank: 43
VUG Sharpe Ratio Rank: 50
VUG Sortino Ratio Rank: 47
VUG Omega Ratio Rank: 48
VUG Calmar Ratio Rank: 33
VUG Martin Ratio Rank: 37

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VHYAX vs. VUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard High Dividend Yield Index Fund Admiral Shares (VHYAX) and Vanguard Growth ETF (VUG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	VHYAX	VUG	Difference
Sharpe ratio: Return per unit of total volatility	2.69	1.77	+0.93
Sortino ratio: Return per unit of downside risk	3.82	2.40	+1.42
Omega ratio: Gain probability vs. loss probability	1.49	1.31	+0.18
Calmar ratio: Return relative to maximum drawdown	4.11	1.69	+2.42
Martin ratio: Return relative to average drawdown	15.57	5.92	+9.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VHYAX vs. VUG - Sharpe Ratio Comparison

The current VHYAX Sharpe Ratio is 2.69, which is higher than the VUG Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of VHYAX and VUG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VHYAX	VUG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	1.77	+0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.68	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.62	+0.10

Drawdowns

VHYAX vs. VUG - Drawdown Comparison

The maximum VHYAX drawdown since its inception was -35.14%, smaller than the maximum VUG drawdown of -50.68%. Use the drawdown chart below to compare losses from any high point for VHYAX and VUG.

Drawdown Indicators

	VHYAX	VUG	Difference
Max Drawdown Largest peak-to-trough decline	-35.14%	-50.68%	+15.54%
Max Drawdown (1Y) Largest decline over 1 year	-6.75%	-16.53%	+9.78%
Max Drawdown (3Y) Largest decline over 3 years	-14.42%	-22.85%	+8.43%
Max Drawdown (5Y) Largest decline over 5 years	-15.87%	-35.61%	+19.74%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.61%	—
Current Drawdown Current decline from peak	0.00%	-1.51%	+1.51%
Average Drawdown Average peak-to-trough decline	-3.77%	-7.09%	+3.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	4.71%	-2.93%

Volatility

VHYAX vs. VUG - Volatility Comparison

The current volatility for Vanguard High Dividend Yield Index Fund Admiral Shares (VHYAX) is 2.93%, while Vanguard Growth ETF (VUG) has a volatility of 3.83%. This indicates that VHYAX experiences smaller price fluctuations and is considered to be less risky than VUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VHYAX	VUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.93%	3.83%	-0.90%
Volatility (6M) Calculated over the trailing 6-month period	7.76%	12.11%	-4.35%
Volatility (1Y) Calculated over the trailing 1-year period	10.31%	15.84%	-5.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.00%	22.22%	-8.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.97%	21.44%	-3.47%

VHYAX vs. VUG - Expense Ratio Comparison

VHYAX has a 0.08% expense ratio, which is higher than VUG's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VHYAX vs. VUG - Dividend Comparison

VHYAX's dividend yield for the trailing twelve months is around 2.16%, more than VUG's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VHYAX Vanguard High Dividend Yield Index Fund Admiral Shares	2.16%	2.42%	2.72%	3.09%	2.98%	2.74%	3.16%	3.00%	0.00%	0.00%	0.00%	0.00%
VUG Vanguard Growth ETF	0.37%	0.41%	0.47%	0.58%	0.70%	0.48%	0.66%	0.95%	1.32%	1.14%	1.39%	1.30%

Frequently Asked Questions

Can I hold both VHYAX and VUG in my portfolio?

VHYAX and VUG have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VHYAX or VUG?

VUG has higher volatility (3.83%) compared to VHYAX (2.93%). In terms of maximum drawdown, VHYAX dropped -35.14% vs VUG's -50.68%.

Which has better risk-adjusted returns?

VHYAX currently has the higher Sharpe Ratio (2.69 vs 1.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.